Jennifer Granholm, Former Governor of Michigan, Distinguished Practitioner of Law and Public Policy, UC Berkeley

LocationGrand Ballroom

Time9:30 a.m. – 10:30 a.m.

Session 1: The Future of Renewable Energy in the Western RegionIn this session, public and private sector renewable energy leaders will assess the marketplace and forecast the future of renewable power, transportation, and thermal energy markets in the West. Renewable energy businesses have traditionally relied on regulatory incentives and “open doors” for development. Speakers will address how the national debate over net metering, tariff reform, future of RPS policies, among other trends, will play out for the sector over the next few years.

How will the EPA caps on greenhouse gas emissions affect western states’ energy and transportation sectors?

As RPS requirements are met, how will states continue to drive renewable energy development? And what is left to develop of these RPS targets?

What is the prospect for multi-state collaboration to address climate change and expand renewable energy development?

Session 2: Moving past the ITC and PTC: Are Financing Innovations the Solution? What is the future of renewable energy in 2016 and beyond with and without tax credits? This session will discuss how the industry will continue to finance renewable energy development in the years to come, and whether financing innovations, such as yieldcos, REITs, MLPs, PACE, securitization, and green bonds, will be able to continue the momentum spurred by the federal tax credits and accelerated depreciation.

Can these innovative financing structures work in conjunction with the current tax incentives to produce better after-tax returns for renewable energy investors?

Will new financing innovations be sufficient to attract significant investment in renewable energy if the tax incentives are no longer available?

How would the sector look if incentives were removed for all energy sources alike?

Networking Lunch

Session 3: The Net Metering Solution and the Future of the Utility Business Model

INTRODUCTION: The Net Metering Solution Net energy metering policies support the development of distributed generation in 43 states and the District of Columbia. A battle, however, is brewing among private-sector developers and their utilities about net metering. In parallel, some states have begun to expand their net metering policies to support community-owned distributed generation systems, and to increase the penetration of renewables on the grid. Speakers will discuss what is needed to strengthen net metering to promote more renewables.

DISCUSSION: The Future of the Utility Business Model The shifting climate surrounding the electric utility business model has caused considerable uncertainty in a sector with historically predictable returns on investment. Customers and businesses, fueled by preferences and new technology, are demanding more control over their energy services and consumption. In order to survive, if not thrive, new models are being designed to provide alternatives to the standard approach to electricity services, as well as financing mechanisms to support those new models. The innovative power companies rising to meet this new customer demand may be well positioned to disrupt and transition the direction of energy production and energy services in a changing world.

How do both the regulatory structure and utility investment strategy need to evolve to facilitate business development and innovation?

How will the increase in private-sector small and mid-scale investments and community utility-scale investment influence the rate of change to the standard utility model?

Do changes to the monopoly and competitive market utility environment influence the financial stability (or credit ratings) of the utilities, and to what extent does that impact renewable energy development?

Are efficiency improvements in the renewable energy industry resulting in a cost advantage over similar services provided by their utility counterparts?

Will competitive neutrality and affiliated transaction rules contribute to the velocity of change in the utility business model now that a bona fide private sector solution is emerging for the provision of renewable energy services?

Session 4: Investing in Smart Grids, Microgrids and Energy StorageEnabling technologies, such as smart grid, microgrids distributed generation and storage are redefining how we produce, transmit, distribute, and use electricity. Along with those changes, the same technologies are challenging utilities and regulatory models typically defined by goals of reliability, equity, keeping costs low and in some states fostering energy efficiency and at the same time are not defined by adopting to times of rapid change. This session will explore financing opportunities to fill the gaps in power generation infrastructure using these technologies.

Session 5: Early Stage Investment For Renewable Energy TechnologiesWhat is the investment climate for new renewable energy and energy enabling technology? While it is true that the headlines paint a less than rosy picture and many high-profile shops on Sand Hill Road may have shifted strategies, it is also true that innovation in the energy sector has continued at a robust rate. And the universe of investment dollars has broadened to include family offices, “impact” investors and strategic as well as traditional venture and private equity funds. Come to this panel to hear the complete story and receive a more accurate portrait of technology advancements that will impact the sector in the years to come.

Who’s investing? How has the composition and investor pool shifted over the past 5 years?

What companies or projects are receiving funding?

Will the emphasis remain on energy efficiency and storage? A re project lenders still too adverse to IP risk to drive significant innovation on the generation side?

What about distributed generation and the movement away from the grid?

What are the other drivers – including the need for “impact” and integrated reporting?

What is the outlook for early stage investment capital over that next 12 months?

Finally, what are five things an entrepreneur should know before pitching investors – and does this vary by type of investor?

Session 6: Big Banks - Their Changing Role in Financing RenewablesREFF-West is the only major renewable energy event on the West Coast to bring you up-to-the-minute commentary from both Wall Street and the West. A panel of top energy bankers, representing world-leading financial institutions, who are all currently leading major deals, will debate how the financial landscape has changed over the last twelve months and explore what we can expect from the market moving forward, while also considering the similarities and differences between investor attitudes on the East and West coasts respectively.

Session 7: The Increasing Role of IT in Driving RenewablesInformation technology is changing life, business, and governance at an unprecedented rate and scale. It is creating powerful new opportunities to accelerate the financing, development, and distribution of renewable energy. So called “Cleanweb” solutions – such as new venture-backed solar customer acquisition start-ups, internet-of-things products and platforms that connect distributed power to the net, big data analytics of renewable power performance, and online gaming solutions that drive renewable uptake – are already becoming a major force in the evolution of renewable energy markets.

How is IT enabling new business models in the renewable space?

What are the most promising emerging sectors where IT is adding the most value (financing, distribution, operation, other?)

How entrepreneurs, investors, corporates, and policy makers should be adjusting their strategies to leverage IT more effectively?

Networking Lunch

Session 8: Financing Middle-Market Renewable Energy Renewable energy markets have seen growing investment in the middle market with investors focusing on project assets worth $10 – $100 million. While these projects are smaller than traditional large, capital intensive projects that utilities own and operate, the middle market represents an opportunity (and challenge) for investors to take advantage of an expanding class of renewable energy assets.

Is there a transition to middle market transactions from larger and smaller renewable energy deals?

What is the risk and return profile for projects in the middle market?

What are the best strategies to leverage tax equity and debt finance in middle market investments?

How can investors take advantage of rapid growth in this area?

What constraints exist for middle market projects?

What are the best strategies to mitigate costs and enhance returns on middle market projects?

Session 10: Financing the Future of Renewable Transportation Technologies INTRODUCTION:California vehicle emission standards and fuel regulations have the ability to transform the entire transportation industry. What will be the investment impacts of the state’s pioneering efforts in: vehicle efficiency regulations; the capping of GHG emissions from the transport sector; the Low-Carbon Fuel Standard; aggressive electric vehicle charging infrastructure goals; and a steady commitment to hydrogen as a transportation energy carrier?

DISCUSSION Innovation in transportation technology and policy originates from the western United States. Today, investment in renewable transportation technologies is expanding across the western U.S. due to state policies, technology advancements, infrastructure expansion and customer demand. Panelists will explore these investment trends, discuss the specific policies that are both fostering and hindering investment, and identify the firms and funds best positioned to profit from this market transformation.

What will be the effects of fuels under the A B32 G HG cap in 2015?

Is the California Low Carbon Fuel Standard (CLFS) driving innovation in fuels production and the supporting infrastructure to bring these fuels to the marketplace?

What are the technology, deployment and investment trends in the movement of goods, transit and high-speed rail?

What have been the successful exits for technology companies in the transport sector?

Is the CLFS driving innovation, investment, and infrastructure?

What is the status of the electric vehicle charging infrastructure? How are standards being set? Who is investing and building?

Beyond personal transportation, what are the technology, deployment and investment trends in goods movement, transit and high-speed rail?